US stocks open higher by more than 1%
US stocks opened higher today, shrugging off the global recession concerns and the ongoing US-China trade war.
Market's speculations around a near recession for the US economy mounted, especially after the US bonds yield curve inverted, which is a strong signal of a possible recession.
Former Fed chairwoman, Janet Yellen, sees that the yield curve inversion doesn't have to necessarily be a signal this time, while stating alongside with other Fed's members that the US economy is still strong.
The US economy revealed today that the housing starts fell by 4% to 1.191 million in July, while the building permits rose by 8.4% to 1.336 million.
By 06:04 GMT, Dow Jones rose by 1.2% or 330 points to reach 25,906, Nasdaq rose 1.7% (133 points) to 7,900, and S&P 500 rose by 1.5% or 42 points to 2,890.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.0996
|
-0.0039
|
0.3561%
|
|
|
|
|
1.2997
|
-0.0085
|
0.6471%
|
|
|
|
Tadawul
|
8185.51
|
19.43
|
0.24%
|
|
|
|
|
17.444
|
-0.660
|
3.646%
|
|
|
|
|
53.665
|
-0.608
|
1.119%
|
|
|
|
|
59.93
|
0.45
|
0.76%
|
|
|
|
|
1569.295
|
-1.335
|
0.085%
|
|
